Lendingkart, a fintech company, announced that GMO LLC and Triodos Investment had invested Rs 75 crore in debt funding to the company.
According to a statement, the company plans to use the funds to support the origination of MSME (micro, small, and medium enterprises) loans across all states with credit decisions made in a live environment utilising its origination engine, “xlr8,” and “zero-touch” features.
“Lendingkart…raised a total debt funding of Rs 75 crore, Rs 25 crores in debt from GMO LLC, a leading company in the payment industry and Rs 50 crores from Triodos Investment Management via NCDs,” the statement said.
Elaborating on the announcement, Harshvardhan Lunia, CEO and Founder at Lendingkart, said, “The newly infused funds will enable us to disburse working capital loans to underserved MSME customers through our platform”.
Additionally, it will help the company increase its reach and service more pin codes across the country.
“It is our constant endeavour to empower the MSMEs and small businesses and we will continue to bridge the financial gaps for small businesses,” Lunia added.
An impact investor with a global presence is Triodos Investment Management. Along with a strong financial return, it invests in having a positive social and environmental impact.
GMO provides various payment and financial-related solutions and platforms.
“GMO is also promoting global expansion such as overseas payment-related service development and strategic investment and financing for leading-edge Fintech companies overseas,” the statement added.
